Ryder executed a five-year, $1.4 billion global revolving credit facility, which includes 11 global institutions and will expire on Dec. 14, 2026. BofA Securities and MUFG Bank acted as joint bookrunners and joint lead arrangers for the facility.

In addition, BNP Paribas Securities, Mizuho Bank, PNC Capital Markets, RBC Capital Markets, Truist Securities, U.S. Bank and Wells Fargo Securities acted as joint lead arrangers for the facility, while Regions Bank and Comerica Bank also participated as lenders.

“Execution of this new credit agreement further solidifies Ryder’s strong liquidity position for the next five years,” John Diez, CFO of Ryder, said.

Ryder will use the credit facility for working capital and other general corporate purposes.

“We are very pleased with the continued long-term financial support and confidence shown by our global banking partners,” Dan Susik, senior vice president of finance and treasurer for Ryder, said.